Realty Income (NYSE:O) Hits New 1-Year High – Here’s What Happened

Realty Income Corporation (NYSE:O) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $67.15 and last traded at $66.9390, with a volume of 597558 shares trading hands. The stock had previously closed at $66.14.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen cut Realty Income from a “hold” rating to a “sell” rating in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded Realty Income from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, January 20th. Wells Fargo & Company boosted their target price on Realty Income from $59.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Cantor Fitzgerald dropped their target price on shares of Realty Income from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $61.00 price target on shares of Realty Income in a research report on Thursday, December 18th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.21.

Realty Income Trading Up 0.8%

The firm has a fifty day moving average of $60.29 and a 200 day moving average of $59.12. The firm has a market capitalization of $61.34 billion, a PE ratio of 61.78, a P/E/G ratio of 3.91 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.53 and a current ratio of 1.53.

Realty Income Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. Realty Income’s dividend payout ratio (DPR) is currently 300.00%.

Institutional Investors Weigh In On Realty Income

A number of large investors have recently added to or reduced their stakes in O. Vanguard Group Inc. boosted its position in Realty Income by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 150,415,287 shares of the real estate investment trust’s stock valued at $8,478,910,000 after buying an additional 684,949 shares during the last quarter. State Street Corp boosted its holdings in Realty Income by 0.8% in the fourth quarter. State Street Corp now owns 63,559,987 shares of the real estate investment trust’s stock valued at $3,599,676,000 after purchasing an additional 531,095 shares during the last quarter. Geode Capital Management LLC grew its stake in Realty Income by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 29,206,196 shares of the real estate investment trust’s stock valued at $1,655,991,000 after purchasing an additional 793,100 shares in the last quarter. Morgan Stanley increased its holdings in Realty Income by 21.6% during the 4th quarter. Morgan Stanley now owns 18,291,294 shares of the real estate investment trust’s stock worth $1,031,080,000 after purchasing an additional 3,252,091 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Realty Income by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,863,638 shares of the real estate investment trust’s stock valued at $725,144,000 after purchasing an additional 192,467 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

About Realty Income

Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.